Embarking on a journey to become a real estate salesperson in Toronto can be both exciting and daunting. The first step is to arm yourself with knowledge, skills, and a solid understanding of the industry's legal and ethical requirements. One effective way to accomplish this is through an "online real estate salesperson course in Toronto," specifically the renowned program offered by Humber College. This article provides a sneak peek into the curriculum's first course, Real Estate Essentials, divided into seven comprehensive modules, each designed to pave your path toward becoming a proficient Ontario real estate salesperson.
Get Your Online Real Estate Salesperson Course Humber College Exam Study Notes Here: https://www.humberrealestate.net/
Here's a summarized overview of the seven modules from the Humber College Real Estate Salesperson exam study notes:
Online Real Estate Salesperson Course
Module 1: Overview of the Real Estate Industry This module introduces the Real Estate and Business Brokers Act (REBBA), 2002, which regulates licensed real estate brokers and brokerages in Ontario, Canada. It outlines the changes from the previous 1990 Act, highlighting the new structure for registration and regulation of the industry.
Module 2: Introduction to Principles of Real Estate Focuses on the fundamentals of real estate as defined under REBBA 2002, detailing what constitutes a trade and outlining the permitted and prohibited activities for unregistered assistants. It clarifies the distinction between registered salespeople and unregistered individuals, emphasizing compliance with REBBA.
Module 3: Introduction to Ownership Discusses various interests in real estate, particularly ownership and security interests like mortgages. It details the rights associated with real estate ownership, differentiating between ownership and security interests, and introduces concepts of multiple ownership possibilities.
Module 4: Land Description and Registration Covers land measurement systems, historical development of land divisions in Ontario, and the role of land surveyors. It introduces metes and bounds descriptions and the importance of accurate land surveys for property description and legal documentation.
Module 5: The Real Estate and Business Brokers Act (REBBA) Explores REBBA's history, regulatory framework, and its implementation regulations affecting brokers and salespeople. It emphasizes the significance of understanding REBBA and its regulations for professional practice in real estate.
Module 6: Important Legislation and Regulations Addresses the legal and regulatory requirements for real estate contracts, including the necessity of written agreements, the role of contract law, and specific legislations like the Statute of Frauds and the Vendors and Purchasers Act. It highlights the legal obligations and requirements in real estate transactions.
Module 7: Canada's Anti-Spam Laws (CASL) Describes CASL and its purpose to regulate electronic communications in business. It differentiates between express and implied consent for sending commercial electronic messages (CEMs) and outlines compliance requirements to prevent spam and ensure consumer protection.
These modules collectively provide a comprehensive overview of the legal, regulatory, and ethical framework governing the real estate industry in Ontario, aiming to prepare candidates for professional practice and compliance.
Here are 20 multiple choice questions based on the summaries of the seven modules of the Humber College Real Estate Essentials course:
Here's a revised version with improved formatting for clarity and readability:
Humber College Real Estate Essentials Course: Exam Questions
Below are 20 multiple-choice questions based on the summaries of the seven modules from the Humber College Real Estate Essentials course. Each question is followed by four options, with the correct answer highlighted.
Module 1: Overview of the Real Estate Industry
Q1. Which act regulates the licensing and conduct of real estate professionals in Ontario?
A) Toronto Real Estate Board (TREB)
B) Canadian Real Estate Association (CREA)
C) Real Estate and Business Brokers Act (REBBA), 2002 (Correct)
D) Ontario Municipal Board (OMB)
Q2. As of which date did the most current version of REBBA, 2002, come into effect?
A) March 31, 2006 (Correct)
B) November 7, 2005
C) January 1, 2000
D) July 1, 2007
Module 2: Introduction to Principles of Real Estate
Q3. Who administers REBBA on behalf of the Ontario Ministry of Consumer Services?
A) TREB
B) CREA
C) RECO (Correct)
D) OREA
Q4. What does the term "trade" include under REBBA 2002?
A) Only the sale of residential properties
B) Any sale, purchase, lease, or rental of real estate (Correct)
C) Transactions involving commercial properties only
D) Only the exchange of real estate
Module 3: Introduction to Ownership
Q5. Which of the following is a permitted activity for unregistered assistants?
A) Negotiating purchase agreements
B) Scheduling appointments for registrants to view properties (Correct)
C) Hosting open houses
D) Making cold calls
Q6. What type of real estate ownership interest confers the most rights?
A) Leasehold
B) Fee simple absolute (Correct)
C) Security interest
D) Life estate
Module 4: Land Description and Registration
Q7. What is the most common type of security interest in real estate?
A) Liens
B) Mortgages (Correct)
C) Easements
D) Encumbrances
Q8. Who invented the Günter chain for land measurement?
A) Edmund Günter (Correct)
B) John Smith
C) Henry Ford
D) Albert Einstein
Module 5: The Real Estate and Business Brokers Act (REBBA)
Q9. What method is used for more precise descriptions of land that have irregular shapes?
A) Concession lots system
B) Township system
C) Metes and bounds (Correct)
D) Survey system
Q10. Under which regulation is the code of ethics for real estate professionals found?
A) Ontario Regulation 567/05
B) Ontario Regulation 579/05
C) Ontario Regulation 580/05 (Correct)
D) Ontario Regulation 581/05
Module 6: Important Legislation and Regulations
Q11. What must all contracts for the acquisition or disposition of real estate be?
A) Oral agreements
B) In writing (Correct)
C) Notarized
D) Witnessed by a lawyer
Q12. Which act requires that all agreements relating to the transfer of real estate ownership be in writing?
A) The Frauds Act
B) The Vendors and Purchasers Act
C) The Statute of Frauds (Correct)
D) The Property and Conveyancing Act
Module 7: Canada's Anti-Spam Laws (CASL)
Q13. For how long is implied consent effective under CASL?
A) 6 months
B) 1 year
C) 2 years (Correct)
D) Indefinitely
Q14. What is the purpose of Canada's Anti-Spam Laws (CASL)?
A) To regulate the use of postal mail for marketing
B) To set standards for the delivery of commercial electronic messages (Correct)
C) To eliminate all forms of advertising
D) To monitor telephone marketing practices
Additional Questions
Q15. Which of the following is NOT a direct impact of REBBA's regulations on real estate professionals?
A) Brokerage structure
B) Trust funds management
C) Dress code for real estate agents (Correct)
D) Professional conduct
Q16. What is the primary role of the Real Estate Council of Ontario (RECO)?
A) To provide MLS listings
B) To enforce REBBA (Correct)
C) To offer real estate courses
D) To manage real estate taxes
Q17. Which term is often confused with real estate agents and brokers but signifies a member of the National Association of Realtors?
A) Broker
B) Salesperson
C) Realtor (Correct)
D) Inspector
Q18. What historical tool was used in Ontario for the initial surveying of land?
A) The Simcoe chain
B) The Günter chain (Correct)
C) The Metric system
D) GPS technology
Q19. Which of the following tasks is an unregistered assistant NOT allowed to perform under REBBA 2002?
A) Submit listings via MLS
B) Arrange for the negotiation of purchase agreements (Correct)
C) Take photographs of listings
D) Arrange and design promotional materials
Q20. What act aims to make the internet a safer place by regulating the delivery of commercial electronic messages?
A) The Internet Safety Act
B) Canada's Anti-Spam Legislation (CASL) (Correct)
C) The Digital Communication Act
D) The Online Protection Act
These questions are crafted to test understanding and ensure a comprehensive grasp of the material covered in the Humber College Real Estate Essentials course.
These questions cover key concepts from the modules and are designed to test a learner's understanding of the Real Estate Essentials course material.
Our Team of Humber College Real Estate Exam Experts
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